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MISKIMINS v. CITY NATIONAL BANK OF FORT SMITH

No. 5-5011.

456 S.W.2d 673 (1970)

R. S. MISKIMINS, Appellant, v. The CITY NATIONAL BANK OF FORT SMITH, Arkansas, Appellee.

Supreme Court of Arkansas.

June 29, 1970.

Attorney(s) appearing for the Case

Bethell, Stocks, Callaway & King, Ft. Smith, for appellant.

Thomas Harper, and Don A. Smith, Ft. Smith, for appellee.

FOGLEMAN, Justice.

The summary judgment appealed from in this case was rendered in a suit by appellee against appellant seeking a declaration of appellee's rights and appellant's liability for a $9,000 balance remaining unpaid on a $25,000 loan. Appellant borrowed the money to pay for stock in Investors Thrift Corporation (hereinafter referred to as ITC), and used it for that purpose. The proceeds of the sale of stock by ITC were to be used in the purchase of stock...

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